Sonida Senior Living, Inc. acquired Protective Life portfolio of Protective Life Insurance Company for $40.2 million.
March 26, 2024
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Sonida Senior Living, Inc. (NYSE:SNDA) acquired Protective Life portfolio of Protective Life Insurance Company for $40.2 million on February 2, 2024. Deal financing is secured from Ally Bank. on February 2, 2024. In addition to aggregate deposits of $1.5 million made in December 2023 and January 2024, Sonida Senior Living, Inc. funded the remaining cash portion of the purchase price with $15.4 million of net proceeds from the sale of the shares at the first closing of the Private Placement. Sonida Senior Living, Inc. obtained additional debt proceeds through its existing loan facility with Ally Bank for the remaining portion of the purchase price. On February 2, 2024, in connection with the Protective Life Loan Purchase, Sonida Senior Living, Inc. expanded its outstanding term loan with Ally Bank by $24.8 million.
Sonida Senior Living, Inc. (NYSE:SNDA) acquired Protective Life portfolio of Protective Life Insurance Company on February 2, 2024.
Sonida Senior Living, Inc. operates senior housing communities in the United States in terms of resident capacity. The Company provides residential housing and services to people aged 75 years and older, including independent living, assisted living, and memory care services. It provides independent living services to seniors, which include daily meals, transportation, social and recreational activities, laundry, housekeeping and 24-hour staffing. It also fosters the wellness of its residents by offering access to health screenings (such as blood pressure checks), periodic special services (such as COVID-19 and influenza inoculations), dietary and similar programs, and ongoing exercise and fitness classes. It also offers a range of assisted living care and services, including personal care services, 24-hour staffing, support services, and other supplemental services, including memory care services at some communities. It operates over 71 senior housing communities in 18 states.
SONIDA SENIOR LIVING, INC. 
